Monday, March 23, 2015
Jewellery companies take much interest in e-commerce platform
Indian e-commerce business is expected to touch around $22 billion within 3 years
Mar 20 2015: There is a growing interest amongst jewellery companies to include e-commerce into their retail reach, reports say. The Indian e-commerce business is expected to touch around $22 billion in three years, and stand at about $6 billion in the current year, as per research and analyst companies, reports say.
Companies are considering being part of this growth, with some already retailing online through e-commerce ventures like Amazon, Flipkart, eBay, or the India ventures like BlueStone.com and Caratlane.
Recently PC Jeweller had tied-up with Blue Nile, while Tara Jewels had begun selling online through Amazon.com, reports add. Jewellery company Gitanjali Gems envisions e-commerce to occupy around 20 percent of its sales in the coming three to four years, growing from the current 1 percent, reports say. Industrialists Ratan Tata had invested in online jewellery portal Bluestone.
Jewellery companies are considering online portals which are already selling jewellery, apart from promoting their own product portfolio. The quotient of trust is key in the jewellery sector, which online retailers are conscious about and are addressing this with free home delivery and trials at home, reports say.
The online platform serves the advantage of anytime, anywhere shopping for consumers, leveraging the scope of markets a jewellery company can tap at a point. The online medium also offers comparisons in designs and prices, for the consumer, reports add.